A GIANT enterprise zone aimed at turning the Humber into a green energy hub was approved by the Government this morning.
The 375 hectare zone will be the largest in the country with the Humber Local Enterprise partnership expecting it to create almost 5,000 jobs in the next four years.
The Humber Waterside Enterprise Zone was one of 11 to be announced this morning but proposals to host one on the Scarborough Business Park look to have missed out on Government support.
Making the announcement, Prime Minister David Cameron said: "We are determined to do everything we can to make Britain the best place in the world to start and grow a business.
“Enterprise zones are a major step towards delivering this; cutting business taxes, easing planning restrictions and giving business the tools they need to invest and expand.
“These new Enterprise zones will be trailblazers for growth, jobs and prosperity throughout the country.”
Enterprise zones are a Government initiative designed to promote growth in the private sector by allowing local enterprise partnerships to identify locations that can benefit from advantages such as reduced business rates, a simplified planning regome and access to superfast broadband.
Based on two sites, the Humber Waterside Enterprise Zone will focus on attracting offshore wind turbine manufacturers and will save businesses an estimated £7.9m in business rates.
Last month Ministers approved plans for enterprise zones in Leeds and at a collection of sites linked by the M1 in South Yorkshire.
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